Bureau of Internal Revenue Commissioner Romeo Lumagui Jr. at the Kapihan sa Manila Bay forum in Manila on Wednesday (June 18, 2025). Lumagui said the agency is on track to achieve its revenue collection target for this year, but noted that a revision to the target is also possible to take into consideration the country’s economic performance. (PNA photo by Yancy Lim)
The Bureau of Internal Revenue (BIR) is on pace to meet its P3.2 trillion revenue collection target for 2025, but commissioner Romeo Lumagui Jr. said the figure may still be adjusted depending on the country’s economic performance.
Speaking at the Kapihan sa Manila Bay forum on Wednesday, Lumagui said, “The BIR has been working double-time to ensure we hit our revenue target. As of the first quarter, I’m happy to report that we are right on track.”
According to the latest Bureau of the Treasury data, the BIR collected P1.1 trillion from January to April, marking a 14.5 percent increase compared to the same period in 2024.
However, Lumagui acknowledged that a potential revision to the collection target is being discussed in light of the country’s slower-than-expected economic growth. “The revenue target is closely tied to the country’s GDP performance. Since the actual growth fell short of projections, there may be a need to recalibrate our target,” he explained.
The government originally set a 6 to 8 percent economic growth goal for 2025, but the Philippine economy expanded by only 5.4 percent in the first quarter.
“There are ongoing discussions about the appropriate revenue target for the BIR, but as of now, it remains at P3.2 trillion with no official revision yet,” Lumagui added.
Looking ahead, the BIR is aiming to enhance its tax administration through digitalization. Lumagui revealed plans to implement a digital track-and-trace system for cigarettes, vape products, and alcoholic beverages by next year. The system will require registered products to carry QR codes and tax stamps to verify their legality.
“This will help both the BIR and the public ensure that products are properly registered and taxed,” he said.
The project, which will be implemented through a public-private partnership, is currently undergoing review. Its feasibility study is with the Department of Finance, while final approval will come from the Department of Economy, Planning, and Development.
“Our goal is full implementation by next year,” Lumagui said.